What about your exit Plan ?

[Hamza2424]

I perceived trading to be a difficult thing for one to learn. It depends on your level of expertise for you to be perfect in it. That's not what you should learn by yourself; you need a mentor to mentor into it. Your level of interest will determine how long it will take.

I have seen someone who learns how to trade perfectly within 3 months and someone else in 6 months to master trading. It's all about their engagement tidings and how personal they took trading to be that's what took them that long since trading requires someone's time and focus all the time.

Yup, I can agree with every single word of yours just in the first paragraph haha, That really depends on how long a person takes to process the basics because its your intentions that decide your future potential and the learning time required. Trading is a massive domain and there are some full time career options in trading not by just trading even if you are good at decision making you can get many opportunities. personally, if you are good at learning and processing multiple things, you should try a week or more to learn about trading.

If we have expertise and experience in trading we can get bigger profits than just holding long term, with big capital. because if our capital is small the profit we will get is also small. Many people are trying to learn trading, I am too but I am not an expert in trading because I do not focus on learning.

Sir your post needs a little correction I've made it in my quote, so make sure to check it first, Trading cant bring haha more profit than holding let me let you, 90% of traders lose what they earn, yup there's an exception for the Experienced people who have emotional. That's hard to find such people who have great emotional control. 

[sampoerna]

Sir your post needs a little correction I've made it in my quote, so make sure to check it first, Trading cant bring haha more profit than holding let me let you, 90% of traders lose what they earn, yup there's an exception for the Experienced people who have emotional. That's hard to find such people who have great emotional control.

For beginners, indeed, trading is very risky, and it would be much wiser and worth it to just invest and hold coins. And it's not just any coins, make sure that beginners invest their money in top coins only, because if new coins, especially those with hype capital, then the possibility of loss is also very high, and this is very risky, not recommended for beginners.

And really, unless you have become an experienced pro trader, then trading becomes their daily income activity and the results can be extraordinary.

[de_prof]

Sir your post needs a little correction I've made it in my quote, so make sure to check it first, Trading cant bring haha more profit than holding let me let you, 90% of traders lose what they earn, yup there's an exception for the Experienced people who have emotional. That's hard to find such people who have great emotional control.

For beginners, indeed, trading is very risky, and it would be much wiser and worth it to just invest and hold coins. And it's not just any coins, make sure that beginners invest their money in top coins only, because if new coins, especially those with hype capital, then the possibility of loss is also very high, and this is very risky, not recommended for beginners.

And really, unless you have become an experienced pro trader, then trading becomes their daily income activity and the results can be extraordinary.

Becoming an experienced pro trader takes a long time to gain knowledge and skills as a trader, and also costs because when learning we will experience defeat and loss. Everything requires a process and it will take a long time. but if we want to play it safe, we can become a holder by trying to learn to become a professional trader gradually.
I have been doing this for 10 years, and I am not a professional trader, I just learned to be a trader by managing my emotions and finances so as not to suffer defeat.

[ZAINmalik75]

I personally cannot determine how many years we can study this because I feel that as time goes by, there is still something that is missed. So rather than talking about time, I think it is better for us to continue learning and repeating what we have learned in the beginning, because sometimes we also forget even though we used to understand and even experience it.

This is not a matter of time in my opinion, but it is a matter of will. Will we continue to learn or be quickly satisfied with what we know.

I agree with your statement that it's not about time but about will. If you are willing to learn, act, correct and repeat then you don't have to consider time because if you are learning and also taking action and then correcting yourself and repeating the cycle then you have already reached a point where your life has become more easier then it was starting the cycle.

Therefore we should not be seeing time as a measurement to judge if we have got enough or not. Some people start early but reach their point late and on the other hand, some people start late but achieve their target early. Time is different for everyone so we should not judge time as a tool to measure success in competition to any other person.

[Mr. Magkaisa]

       -       In the strategy of trading, you should know as a trader when to wait so that you can sell the crypto assets you hold that you believe in so that you can really get your aim profit in this field of crypto space.

Because if this happens, it is for sure that you will get what you want, because if you do not have a definite price target, it is for sure that your holding will return to nothing or instead your profit should be large and will be reduced by a large amount because in your pursuit of a large income.

[$crypto$]

I personally cannot determine how many years we can study this because I feel that as time goes by, there is still something that is missed. So rather than talking about time, I think it is better for us to continue learning and repeating what we have learned in the beginning, because sometimes we also forget even though we used to understand and even experience it.

This is not a matter of time in my opinion, but it is a matter of will. Will we continue to learn or be quickly satisfied with what we know.

I agree with your statement that it's not about time but about will. If you are willing to learn, act, correct and repeat then you don't have to consider time because if you are learning and also taking action and then correcting yourself and repeating the cycle then you have already reached a point where your life has become more easier then it was starting the cycle.

Therefore we should not be seeing time as a measurement to judge if we have got enough or not. Some people start early but reach their point late and on the other hand, some people start late but achieve their target early. Time is different for everyone so we should not judge time as a tool to measure success in competition to any other person.

Yes, if we focus on time, then maybe we will stop learning when we reach the time we have set at the beginning, while in life we ​​must continue to update our knowledge.

At first glance, trading may only require strategy, technical analysis, fundamentals and others. The problem in practice will not be that simple. Along the way we must continue to develop it and one of them is by continuing to learn.

[vegasus]

At first glance, trading may only require strategy, technical analysis, fundamentals and others. The problem in practice will not be that simple. Along the way we must continue to develop it and one of them is by continuing to learn.

Theoretically, maybe we can understand it quite easily. But practically, sometimes it turns out to be much more difficult than we think. Because basically, market flow is often unpredictable, sometimes our market analysis will experience a good increase. but it turns out the opposite. And not to mention the personal when we are really stuck and become emotional when we keep losing in trading. That will make us even more dizzy.

[Vision pro]

You will not find a perfect plan that works for everyone, so each of us must have his own plan based on his circumstances, investment plan, taxes, age, social and economic status, and the younger you are, the better it is to leave some Bitcoin untouched for +10 years.

That's the thing there are so many different things in this equation a plan good for somebody will be really bad for others, not everyone can wait 10 years, not everyone needs that money that much, and most importantly it comes to the size of the stash.
Somebody who is upper middle income with a few coins would not really care about a 10-20% swing but someone who has quit his job for this and got loans to buy in might have a different opinion.

Also, why do we talk about "exit" strategies, converting back to fiat seems like ....treachery? 

The more one deals with investments, the better one becomes at investing.  If you have been investing for a long time, you will have a lot of knowledge. Everyone's investment plan should be different depending on his personal situation, taxes, age, and socio-economic status.  There is no perfect plan for everyone.  However, the younger you are, the more long-term (10+ years) holding strategies like Bitcoin can benefit you.  There are no restrictions on holding bitcoins, anyone can invest here.

[densus88]

I am looking at an exit plan for when bitcoin skyrockets to $100k-$150k. I believe it will happen next year probably. By that time, most of my investment in bitcoin and altcoins well fetched me many profits. I will be looking at selling some 80% of my bitcoin holdings and all of my altcoins holdings. Failure to do so and bitcoin begin to decrease will cause me to lose a huge amount of profits I would have gained when bitcoin was at a high price.

The price of bitcoin will touch $199K next year, many people predict this. I also agree with you, if the price of bitcoin reaches more than $100K, we sell 80% and leave the rest to sell at the highest point, maybe $150K, so that we don't regret that we sold bitcoin too low if there will be a highest point.

Without a doubt, the majority have a plan, and it is in some ways the right thing to do, but I think that a large majority does not think that way, they simply hodl their bitcoins, and when they need it, well exchange, it is that simple for many, others will even leave their bitcoins for decades even as a legacy for others to decide.

People who have large capital to buy bitcoin will do something simple, just buy and hold long term. It might even be passed on to their descendants as you said.

[Asiska02]

⭐ What are your exit plans for this cycle? (As profit booking is necessary for an investor)

This cycle is somehow controversial and it will be very hard for one to have an exit plan without a due diligence study of the market in all directions. Technically, we are suppose to be in the bull season but we’re yet to witness it in full fledge and the market keeps consolidating which is not a good sign to even sit and analyse a perfect exit plan for the market.

⭐ How long do you think this cycle will take in conclusion?

This cycle can span through this year till next year, from next year  to mid next year to probably even end of the year. End of the year is not that certain but I feel the market will move to mid next year before this cycle comes to an end.

⭐ What can be the optimistic TOP?

Anything above $100K okay for me.

[dekafee79]

The more one deals with investments, the better one becomes at investing.  If you have been investing for a long time, you will have a lot of knowledge. Everyone's investment plan should be different depending on his personal situation, taxes, age, and socio-economic status.  There is no perfect plan for everyone.  However, the younger you are, the more long-term (10+ years) holding strategies like Bitcoin can benefit you.  There are no restrictions on holding bitcoins, anyone can invest here.

If I had knowledge about crypto 10 years ago, maybe I would have invested and bought crypto at a cheap price, unfortunately at that time because of lack of understanding and experience I was worried about buying bitcoin. Discussing the more often we invest, the more experience we will have. Currently I only have a medium-term investment plan following a 4-year cycle, I don't have a long-term hold, for example 10 years, because I'm not young anymore.

[JISAN]

You will not find a perfect plan that works for everyone, so each of us must have his own plan based on his circumstances, investment plan, taxes, age, social and economic status, and the younger you are, the better it is to leave some Bitcoin untouched for +10 years.

Although Bitcoin has crashed many times in its history, it has pumped much higher on average. Because if we look at the opening price of Bitcoin or the previous ATHs, according to that, the price of Bitcoin is still very pumped. However, Bitcoin's bear season is currently underway.  So if one can hold Bitcoin for a long period of time like 10 years then it can be said that he will get a huge return.

The best plan, in my opinion, is to sell 50%-70% of what you own at a price of $140,000 to $180,000 and then buy again at a price of $70,000 to $80,000.

I support your plan because when you sell bitcoins it will be very profitable if you can buy them back at 40-50% down. But to sell bitcoins at such a price you need to be very skilled with bitcoins.  Because it is very difficult to understand that Bitcoin will dump 40-50% again after touching any price

[saprakib]

The more one deals with investments, the better one becomes at investing.  If you have been investing for a long time, you will have a lot of knowledge. Everyone's investment plan should be different depending on his personal situation, taxes, age, and socio-economic status.  There is no perfect plan for everyone.  However, the younger you are, the more long-term (10+ years) holding strategies like Bitcoin can benefit you.  There are no restrictions on holding bitcoins, anyone can invest here.

If I had knowledge about crypto 10 years ago, maybe I would have invested and bought crypto at a cheap price, unfortunately at that time because of lack of understanding and experience I was worried about buying bitcoin. Discussing the more often we invest, the more experience we will have. Currently I only have a medium-term investment plan following a 4-year cycle, I don't have a long-term hold, for example 10 years, because I'm not young anymore.

I have introduced with crypto market at the year of 2010 and its almost 13 year before. I got many chances to buy btc and top altcoin as well but fortune didn’t support me finally. I always try to hold but without having plan of exit from the market i didn’t make loss but i didn’t get much profit all the time.It 's same like you that i had lack of much knowledge behind crypto market. Though i didn’t get much from my investment but also i got enough to male a sweet home. So I always try to learn how to exit from the market and i always set a level after having a huge pump and finally i started to exit from market with good amount of profit. We all need to have a plan where we need to exit it help to exit with profit and also minimize our risk factor.

[terrific]

⭐ What are your exit plans for this cycle? (As profit booking is necessary for an investor)

It is not an exit plan if it's just for this cycle. When I say exit, I'd totally have an entire exit to the market and will never be back again.
That's what an exit plan means to me and if it's about booking profits, I have the same plan as the others when I see $80k-$100k.
Those prices are ideal for someone who wants to book a profit but $60k-$70k, it also means profit to many holders that have been there before those prices.
What matters is as long as we're happy taking and booking those profits, that means a lot already to us.

[KingsDen]

Are you aware that someone people doesn't have an exit plan? They plan to HODL for life, LOL.
Maybe their exit plan is when it is said there's nothing bitcoin again.
These men keep buying and buying,
When there's low he will buy the more and wait when bitcoin will worth $1m, but before then, there's no exit plans

Those who do not have a plan to get out of this unstable market condition, then their financial condition is quite good. They have daily income from their jobs so that their mindset is that cryptocurrency is used as a place for long-term investment and prefer to keep their assets in the exchange place no matter what happens.

We need to realize that everyone's financial condition will be different, there are those like I mentioned above and there are also those who dare to use their living expenses to enter cryptocurrency and when the price drops like this they panic and sell it at a low price.

That is a very true statement. The exit plan of an investor depends so much on the financial ability of that very investor. If Mr Alice has a stable job apart from cryptocurrency, has a very nice emergency fund and does not depend on investment money to take care of family and daily need, he might not even have any exit plan. But in the other hand if Miss Bob, is not financially strong and not sure of where their next meal will come from, they will eventually have an exit plan. Infact, there are chances that he might even defile his exit plan.